India is planning to offer an investment­-linked residency permit for foreign companies that invest Dh7.34 billion ($2 billion) in the country, according to a media report.

“If a foreign company invests $2 billion, it will get residency permits allowing long stay in India for its key executives as well as cheap rates for utilities and a special package on upscale housing,” the Economic Times reported quoting unnamed senior officials.

The proposal, it said, may be formally unveiled post the budget session of the Indian Parliament, which gets over in mid­-March.